Federal Register / Vol. 72, No. 75 / Thursday, April 19, 2007 / Notices 19767 

Approved: April 11, 2007. 

Glenn P. Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E7–7395 Filed 4–18–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[REG–149524–03] 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning an 

existing proposed regulation, REG–

149524–03, (NPRM) LIFO Recapture 

Under Section 1363(d). 

DATES: Written comments should be 

received on or before June 18, 2007 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn P. Kirkland, Internal Revenue 

Service, room 6516, 1111 Constitution 

Avenue NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the regulations should be 

directed to Carolyn N. Brown, at (202) 

622–6688, or at Internal Revenue 

Service, room 6516, 1111 Constitution 

Avenue NW., Washington, DC 20224, or 

through the Internet, at 

Carolyn.N.Brown@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: (NPRM) LIFO Recapture Under 

Section 1363(d). 

OMB Number: 1545–1906. 

Regulation Project Number: REG–

149524–03. 

Abstract: Section 1.1363–2(e)(ii) 

allows a partnership to elect to adjust 

the basis of its inventory to take account 

of LIFO recapture. Section 1.1363–

2(e)(3) provides guidance on how to 

make this election. 

Current Actions: There is no change to 

this existing regulation. 

Type of review: Extension of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations and Individuals or 

households. 

Estimated Number of Respondents/ 

Recordkeepers: 100. 

Estimated Time Per Respondent/ 

Recordkeeper: 2 hrs. 

Estimated Total Annual Reporting/ 

Recordkeeping Burden Hours: 200. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 

displays a valid OMB control number. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for OMB approval. All 

comments will become a matter of 

public record. 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the functions of the agency, including 

whether the information shall have 

practical utility; (b) the accuracy of the 

agency’s estimate of the burden of the 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of automated collection techniques or 

other forms of information technology; 

and (e) estimates of capital or start-up 

costs and costs of operation, 

maintenance, and purchase of services 

to provide information. 

Approved: April 3, 2007. 

Glenn P. Kirkland, 

IRS Reports Clearance Officer. 

[FR Doc. E7–7396 Filed 4–18–07; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

[REG–106177–97] 

Proposed Collection; Comment 

Request for Regulation Project 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to take this 

opportunity to comment on proposed 

and/or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995, 

Public Law 104–13 (44 U.S.C. 

3506(c)(2)(A)). Currently, the IRS is 

soliciting comments concerning an 

existing proposed regulation, REG–

106177–97, Qualified State Tuition 

Programs. 

DATES: Written comments should be 

received on or before June 18, 2007 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Glenn P. Kirkland, Internal Revenue 

Service, room 6516, 1111 Constitution 

Avenue NW., Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the regulations should be 

directed to Carolyn N. Brown, at (202) 

622–6688, or at Internal Revenue 

Service, room 6516, 1111 Constitution 

Avenue NW., Washington, DC 20224, or 

through the Internet, at 

Carolyn.N.Brown@irs.gov. 

SUPPLEMENTARY INFORMATION:

Title: Qualified State Tuition 

Programs. 

OMB Number: 1545–1614. 

Regulation Project Number: REG–

106177–97. 

Abstract: This regulation affects 

qualified tuition programs (QTPs) 

described in Code section 529 and 

individuals receiving distributions from 

the programs. Information will be used 

by the IRS and individuals receiving 

QTP distributions to verify compliance 

with section 529 and to determine the 

taxable amount of a distribution. 

Current Actions: There is no change to 

this existing regulation. 

Type of review: Extension of OMB 

approval. 

Affected Public: State, local or tribal 

governments and individuals or 

households. 

Estimated Number of Respondents/ 

Recordkeepers: 52. 

Estimated Time Per Respondent/ 

Recordkeeper: 81,889 hrs, 37 minutes. 

Estimated Total Annual Reporting/ 

Recordkeeping Burden Hours: 

4,258,260. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

An agency may not conduct or 

sponsor, and a person is not required to 

respond to, a collection of information 

unless the collection of information 


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